UK Retail Sales (Sep 2019) Preview - 0930...>

UK DATA: UK Retail Sales (Sep 2019) Preview - 0930 BST 17/10/19

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- BBG: -0.2%m/m; 3.1%y/y; Prev (Aug): -0.2%m/m, 2.7%y/y 

- Ex. Fuel: BBG: -0.1% m/m, 2.9% y/y; Prev (Aug): -0.3% m/m, 2.2% y/y 

- Retail sales are expected to register a second consecutive m/m decline with

markets looking for sales to remain at Aug's -0.2%. 

- Ex. energy, sales are projected to fall by 0.1% in Sep after decreasing by

0.3% in Aug

- Aug's fall was mainly driven by a sharp decline in non-store retailing, along

with sales of non-specialised stores 

- Annual sales are anticipated to accelerate 0.4pp to 3.1% while excluding fuel,

the rate is expected to edge up to 2.9%. 

- However, forward looking survey results suggest a muted outlook: 

- The BRC-KPMG survey showed a decline of 1.3% of total sales in Sep. Overall

VISA consumer spending plummeted -2.3%, the sharpest fall since Oct 2012.